Employees oppose ‘EPF contribution deduction’ plan
Giving a good message to the employee community living across the world, the employees working in the formal sector of our country has opposed the proposal seeking a reduction of the employee’s rate of contribution to the Provident Fund from twelve per cent to ten per cent. Earlier, it was proposed that the authorities should reduce the employee’s rate of contribution to the EPF from twelve per cent to ten per cent. Recently, the Employees’ Provident Fund Organisation’ Central Board of Trustees, headed by the Union Labour and Employment Minister, discussed the proposal extensively. The central government has expressed happiness in the employees’ decision to pay as much as they used to pay in the EPF. The government claims that the employers are also having a similar opinion over the proposal. The Union Labour and Employment Minister, Bandaru Dattatreya, has called it as a good sign. It is necessary that no sensitive decision should be taken by the government in the matters related to the formal sector ignoring the opinion of the employees and employers, if it wants to maintain the status quo undisturbed. In India, the labour unions are an extremely powerful political force. It plays a vital role in the decision-making process related to the industrial, employment and labour sector. Experts say that the government must expand their coverage of the social security schemes related to the employees in order to help the employees of informal sector avail the benefits of such schemes.
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